Ruble Forecast: Potential Drop Ahead?
Good day,
The Russian ruble might still drop and approach the supporting zone formed between the levels 71.50 and 72.00. In general, the Russian currency is still moving in the range.
The EUR/USD pair is heading down, targeting the level of 1.1700. This level is expected to offer strong support.
The price of oil is moving below the trendline of downtrend. Currently, it has formed the pattern resembling a pennant. Should the asset drop any further, it might easily break the resistance at the level of 75.50. Hence, it would be wise to check the price movements as oil might also jump instead.
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